CVS Health Co. (NYSE:CVS) Receives $69.12 Consensus Target Price from Brokerages

CVS Health Co. (NYSE:CVS) has been given a consensus rating of “Moderate Buy” by the nineteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $69.12.

A number of equities research analysts have recently issued reports on the stock. Evercore ISI boosted their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Barclays dropped their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Mizuho reduced their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, UBS Group upped their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th.

CVS Health Stock Performance

Shares of CVS stock opened at $44.49 on Wednesday. The company has a market capitalization of $55.99 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 0.85 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health has a 52 week low of $43.56 and a 52 week high of $83.25. The company has a 50-day simple moving average of $54.13 and a 200 day simple moving average of $57.67.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.21 earnings per share. On average, sell-side analysts predict that CVS Health will post 5.32 earnings per share for the current year.

Institutional Investors Weigh In On CVS Health

A number of institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in shares of CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after purchasing an additional 66,244 shares during the period. Old North State Trust LLC acquired a new position in CVS Health during the 3rd quarter worth about $200,000. Tidal Investments LLC grew its position in shares of CVS Health by 52.2% in the 3rd quarter. Tidal Investments LLC now owns 112,010 shares of the pharmacy operator’s stock valued at $7,043,000 after buying an additional 38,408 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of CVS Health in the third quarter valued at about $2,071,000. Finally, World Investment Advisors LLC raised its position in shares of CVS Health by 280.7% during the third quarter. World Investment Advisors LLC now owns 27,543 shares of the pharmacy operator’s stock worth $1,732,000 after acquiring an additional 20,308 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Company Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.